Things in the Sky

Remember the Stop Oil Speculation Now movement started by the ATA? I really wasn’t a fan of it at all.

Today Sky Talk linked to a new site launched by the Reaching Higher Coalition called The Airline Oil Spin. The site basically makes a point that the airlines’ fuel hedging is simply a form of speculation, and can’t have it both ways, which I think many have been saying ever since the ATA launched its campaign.

There was an ineresting quote I found on one of the website’s pages:

“Speculators bring information to the markets. Clearly, the supply of oil is struggling to grow, and demand is continuing. In that environment, higher prices are a result.”

Scott Topping
Treasurer of Southwest Airlines

This is actually the same quote I posted awhile back. Still ironic nontheless since Gary Kelly (CEO) signed the original letter.

Anyway, I’m glad to see a group stepping up against the ATA on this one.